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Rivian Automotive, Inc. (RIVN) Stock Sinks As Market Gains: What You Should Know
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Rivian Automotive, Inc. (RIVN - Free Report) closed at $63.43 in the latest trading session, marking a -0.44% move from the prior day. This change lagged the S&P 500's daily gain of 2.24%. Elsewhere, the Dow gained 2.51%, while the tech-heavy Nasdaq lost 0.2%.
Prior to today's trading, shares of the company had gained 18.11% over the past month. This has outpaced the Auto-Tires-Trucks sector's loss of 10.91% and the S&P 500's loss of 2.58% in that time.
Rivian Automotive, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be March 10, 2022.
It is also important to note the recent changes to analyst estimates for Rivian Automotive, Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Rivian Automotive, Inc. is currently a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 107, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Rivian Automotive, Inc. (RIVN) Stock Sinks As Market Gains: What You Should Know
Rivian Automotive, Inc. (RIVN - Free Report) closed at $63.43 in the latest trading session, marking a -0.44% move from the prior day. This change lagged the S&P 500's daily gain of 2.24%. Elsewhere, the Dow gained 2.51%, while the tech-heavy Nasdaq lost 0.2%.
Prior to today's trading, shares of the company had gained 18.11% over the past month. This has outpaced the Auto-Tires-Trucks sector's loss of 10.91% and the S&P 500's loss of 2.58% in that time.
Rivian Automotive, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be March 10, 2022.
It is also important to note the recent changes to analyst estimates for Rivian Automotive, Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Rivian Automotive, Inc. is currently a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 107, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.